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Brazil’s Central Bank Quadruples Yuan Holdings, Raising Chinese Hopes for Greater RMB Acceptance

by Cobus van Staden

Brazil’s Central Bank increased its reserves of Chinese renminbi (RMB) fourfold last year. It is the latest indication that the RMB is set to become much more influential in the global financial landscape.

A survey last week indicated that more than a third of central bankers around the world plan to add the Chinese currency to their reserve assets.

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